I've written that my guess was that the long term ratings averages for The Jay Leno Show would probably equal or slightly exceed his average last fall on the Tonight Show (1.5 rating for adults 18-49), and now comes news that rating could earn NBC as much as $300 million a year.

With just a 1.5 rating, "The Jay Leno Show" could make $300 million a year for NBC -- and probably spark other networks to follow suit.

That was the judgment of WME head of nonscripted John Ferriter, speaking Tuesday on a Producers Caucus panel at the Beverly Hills Hotel.